People wait for tickets at a ticket office of a movie theatre in Wuhan, Hubei province, in this August 13, 2013 file photo. Warner Brothers and investment firm China Media Capital (CMC) are forming a joint venture to develop Chinese-language movies, adding to a wave of tie-ups between Hollywood studios and Chinese partners to tap China's fast-growing box office. The joint venture, Flagship Entertainment Group Ltd, is being launched ahead of Chinese President Xi Jinping's official visit to the United States next week and underscores the growing influence of Chinese movies around the world. China's box office takings, set to hit $8.9 billion in 2019 from $5 billion this year, according to PwC, are fast catching up with the United States, but global studios have a tough time keeping on the right side of the censors and getting around a strict quota system for imported films. To match story WARNERBROTHERS-CHINAVENTURE/ REUTERS/Darley Shen/Files CHINA OUT. NO COMMERCIAL OR EDITORIAL SALES I

China’s largest movie ticketing app Maoyan, backed by Tencent, to raise up to US$350 million in Hong Kong IPO

  • Maoyan is backed by Tencent, Beijing Enlight Media, and Meituan-Dianping
  • It rivals Alibaba’s Taopiaopiao in China’s online ticketing, where the two account for more than 90 per cent of market share
Topic |   IPO

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People wait for tickets at a ticket office of a movie theatre in Wuhan, Hubei province, in this August 13, 2013 file photo. Warner Brothers and investment firm China Media Capital (CMC) are forming a joint venture to develop Chinese-language movies, adding to a wave of tie-ups between Hollywood studios and Chinese partners to tap China's fast-growing box office. The joint venture, Flagship Entertainment Group Ltd, is being launched ahead of Chinese President Xi Jinping's official visit to the United States next week and underscores the growing influence of Chinese movies around the world. China's box office takings, set to hit $8.9 billion in 2019 from $5 billion this year, according to PwC, are fast catching up with the United States, but global studios have a tough time keeping on the right side of the censors and getting around a strict quota system for imported films. To match story WARNERBROTHERS-CHINAVENTURE/ REUTERS/Darley Shen/Files CHINA OUT. NO COMMERCIAL OR EDITORIAL SALES I
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